Praxis to invest $1 billion in AI-powered smart city in Uruguay

smart city artificial intelligence urban development technology community investment

The technology community Praxis has selected Uruguay as the site for its first physical headquarters, a project integrated into the +Colonia development near Colonia del Sacramento. The initiative aims to create an AI-powered 'smart city' or 'startup city' designed to explore the societal impacts of artificial intelligence and the changing nature of human labor.

Praxis, led by CEO Dryden Brown, plans to mobilize over $1 billion in investment over the next three years. The project is being developed within +Colonia, a 515-hectare site spearheaded by Eduardo Bastitta. The development seeks to attract professionals in the knowledge economy and crypto-related sectors, with the first residents expected to arrive by mid-2027.

While the agreement is currently described as largely non-binding, the project represents a significant urban expansion for the region. The architecture is envisioned as a fusion of gothic elements and space-age futurism, aiming to establish a new community for thinkers and entrepreneurs in a post-AI world.

Entities

+Colonia · +Colonia · Apollo Projects · Dryden Brown · Eduardo Bastitta · Praxis · Uruguay

Claims

What the coverage asserts, and how many sources carry each claim.

[● 2 SOURCES] Praxis plans to invest over US$ 1,000 million to establish its first physical headquarters in +Colonia, Uruguay. www.carmeloportal.com · eleconomista.com.ar
[○ 1 SOURCE] The +Colonia development currently involves approximately US$ 300 million in investment. www.carmeloportal.com
[○ 1 SOURCE] Apollo Projects, a fund linked to Sam Altman, is among the investors backing Praxis. www.carmeloportal.com
[○ 1 SOURCE] The project aims to create a 'startup city' that combines urban planning with private investment. www.construar.com.ar
[○ 1 SOURCE] The first residents of the Praxis community are expected to arrive by mid-2027. www.carmeloportal.com
[● 2 SOURCES] The +Colonia project covers 515 hectares located near the Río de la Plata. www.carmeloportal.com · eleconomista.com.ar
[● 2 SOURCES] The Praxis community consists of approximately 150,000 members focused on technology and AI. www.carmeloportal.com · www.construar.com.ar
[○ 1 SOURCE] The agreement between Praxis and +Colonia is currently described as largely non-binding. eleconomista.com.ar